Forecast: Production Value of Services Incidental to Air Transportation in Belgium

The production value of services incidental to air transportation in Belgium has experienced fluctuations over the past decade, ranging from a high of 1.32 billion euros in 2013 to a low of 0.77 billion euros in 2020 due to the COVID-19 pandemic. As of 2023, the production value stands at 1.25 billion euros. Over the past two years, the sector showed signs of recovery with a year-on-year growth of 9.11% in 2023 and 15% in 2022. The Compound Annual Growth Rate (CAGR) from 2018 to 2023 is approximately 0.8%, indicating modest growth. Forecasts for the period 2024 to 2028 predict a steady increase, with a 5-year CAGR of 0.63% and an overall growth rate of 3.17%.

Future trends to watch for include:

  • The impact of emerging technologies and innovations in air transport services
  • Changes in regulatory environments affecting air transportation
  • Environmental sustainability practices influencing operational costs
  • Market dynamics and competition within the European air transport services sector

Top Countries about Air Transport